how to remove money from you job 401K?

[Irwin Velez]

Hi guys,

i'm looking for an advise in how to remove money from my 401k in order to invest in a property. it is possible to remove money with out getting hit with fees? if i have an LLC can i transfer the money to the business account? Please advise

thank you 

[Jonathan R.]

@Irwin Velez if you are employed, you can borrow against your 401k (I support certainly if you are going to stay for five years in your job until the loan is paid back), the interest is paid to yourself-it is low like 4.75%. Nominal fee (like $50 maybe) only. You can borrow up to half of what you have in your account, $50,000 max if you have $100,000 in your 401k. Aside from that... you would have to do a hardship withdrawal.... Don’t let people scare you out of using your own money... Keep contributing to your 401k to get the company match, but other than that, blow the 401k up at this point I think, don’t let Wallstreet 401k bankers make you think you can’t use your own money. 

I use my 401k to help me in real estate as often as possible. I know how to buy right though. Good luck!